Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
McDonald's stock (MCD) fell in the intraday levels, recording a loss of 0.61% in the last session, or 0.86 points, as traders took profits of past short-term gains, while the stock gathers momentum to help it rise again, amid the dominance of the main upward trend in the medium and short terms, with a noticeable rise in trading volumes, coupled with ongoing positive pressure from the SMA for the last 50 days period, as the stock trades within the third and final wave of a harmonic pattern that's forming currently, the AB=CD pattern as shown in the attached chart.
Therefore we expect the stock to rise in the coming trading, targeting and readying to tackle the resistance of 144.84.